Total : 2 View more »
MONTREAL, QUEBEC--(Marketwire - Sept. 2, 2009) - Bombardier Inc. (TSX:BBD.A)(TSX:BBD.B) (All amounts in this press release are in U.S. dollars unless otherwise indicated.) - Consolidated revenues of $4.9 billion, in line with last fiscal year - EBITDA of $436 million, compared to $508 million last
http://www.marketwire.com/press-release/Bombardier-Inc-TSX-BBD.A-1038892.html
MONTREAL, QUEBEC--(Marketwire - Sept. 1, 2009) - (TSX:BBD.A) (TSX:BBD.B) - Bombardier Inc.'s financial results for the second quarter ended July 31, 2009, will be released Wednesday, September 2, 2009. Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc.; Guy C. Hachey, President
http://www.marketwire.com/press-release/Bombardier-Inc-TSX-BBD.A-1038456.html
Total : 10 View more »
MONTREAL, Nov. 5, 2009 (Canada NewsWire via COMTEX) --
<<
Speech title: "Our five priorities for growth and success"
Monday, November 9, 2009
Noon - 2 p.m. (speech at 1:00 p.m.)
Centre Sheraton Montreal Hotel
Ballroom
1201 Boulevard René-Lévesque West, Montréal
>>
After being President and Chief Operating Officer of Bombardier Recreational Products, President of Bombardier Business Aircraft and President and Chief Operating Officer of Bombardier Aerospace, Pierre Beaudoin became, in June 2008, President and Chief Executive Officer of Bombardier Inc.
Star of the Québec Inc., Bombardier has become one of the most worldwide respected multinational company.
We hope to have the pleasure of welcoming you to this most fascinating luncheon presentation.
SOURCE: CANADIAN CLUB OF MONTREAL
Ginette Bergogne, Executive Director, Canadian Club of Montreal, (514) 398-0457, gbergogne@canadianclub-montreal.ca
Tags: aerospace aircraft business ceo hotel media montreal president products
Companies: Bombardier Inc. (BDRAF)
Oct 13, 2009 (M2 PRESSWIRE via COMTEX) --
Today, in a celebratory event hosted by the Brussels Transport Company STIB (Societe des Transports Intercommunaux de Bruxelles), two FLEXITY trams marked their departure for Vancouver, Canada, where they will operate in a unique streetcar demonstration project during the Vancouver 2010 Olympic and Paralympic Winter Games. The 32-metre long vehicles will be transported to Bremerhaven, Germany, where they will start their voyage across the high seas. Travelling through the Panama Canal, the award-winning vehicles are scheduled to arrive in Vancouver in early December 2009.
Bombardier Transportation and the City of Vancouver are co-sponsors of the Olympic Line project. This sponsorship is complementary to Bombardier's role as an Official Supporter of the 2010 Olympic and Paralympic Winter Games and designer/ manufacturer of the Olympic torches.
The FLEXITY trams will provide free passenger service between the Olympic and Paralympic Village and Granville Island, a key entertainment centre for the 2010 Winter Games. From January 21 until March 21, 2010, Bombardier will operate the FLEXITY vehicles 7 days a week, 18 hours a day, at 6 to 7 minutes headway on the 1.8-km Olympic Line. This 60-day demonstration period will provide accessible, environmentally friendly and sustainable transportation for over 500,000 Vancouver residents, visitors and athletes from all over the world.
Speaking at the celebratory event in Brussels, Andre Navarri, President of Bombardier Transportation, said: 'Population growth, urbanisation, congestion and pollution are all resulting in a 'Renaissance' in public transport and with it a revival of the tram - as many urban centres consider modern tram technology as an important component of public transit planning and sustainable transportation. In many cities around the world, modern trams are transporting people quickly, efficiently and in comfort and at the same time, are helping cities to breathe once again by reducing pollution and congestion. We are delighted to be able to demonstrate this increasingly popular solution in public transport to the City of Vancouver.'
Alain Flausch, Chief Executive Officer of the STIB, commented: 'We are very proud that our FLEXITY Outlook tram with its Art Nouveau excellent design has been selected by our colleagues of Vancouver and Bombardier as an example of what a modern and efficient tram should look like and be. I am confident that being there with our tram in the middle of a worldwide event like the Winter Olympics will contribute both to the future success of the tram on the North American continent and to the image of Brussels as a city dedicated to public transport and sustainable mobility'.
Brigitte Grouwels, Minister of Transport of the Brussels Capital Region, concluded: 'As Minister of Transport in the Brussels Capital region I am very proud that our Brussels Transport company will provide two BOMBARDIER FLEXITY streetcars on loan for the 2010 Winter Games. This FLEXITY model has definitely proven its functionality in our city. Passengers with childrens' strollers, for example, benefit from these low floor vehicles that enable a continuous flow of passengers. They are also important in reducing CO2 emissions. This partnership is an excellent opportunity to underscore our image as an energy conscious and environmentally friendly capital of not only Belgium, but of Europe as well.'
The Brussels FLEXITY tram has been recognized in the industry for best-in-class innovation and design. It received the prestigious 'Henry Van de Velde label' (2007) for its contemporary interpretation of the Art Nouveau style and a 'Design at Work' Award (2008) for innovative product development and outstanding design qualities.
Currently, more than 450 100% low-floor FLEXITY vehicles are in successful revenue service in Augsburg (Germany), Brussels (Belgium), Linz and Innsbruck (Austria), Lodz (Poland), Eskisehir (Turkey), Geneva (Switzerland), Marseille (France), Valencia and Alicante (Spain), and will soon be put into operation in Palermo (Italy) and Krefeld (Germany). Similar 100% low floor technology will soon be supplied to the City of Toronto, which recently awarded the largest ever light rail contract of 204 streetcars to Bombardier Transportation.
About Bombardier Transportation
Bombardier Transportation, the global leader in rail technology, offers the broadest portfolio in the rail industry and delivers innovative products and services that set new standards in sustainable mobility. BOMBARDIER ECO4 technologies - built on the four cornerstones of energy, efficiency, economy and ecology - conserve energy, protect the environment and help to improve total train performance. Bombardier Transportation is headquartered in Berlin, Germany and has a presence in over 60 countries. It has an installed base of over 100,000 vehicles worldwide.
About Bombardier
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2009, were $19.7 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com .
About the STIB
The largest Belgian urban public transport company, the Societe des Transports Intercommunaux de Bruxelles, serves the 19 municipalities of the Brussels Capital Region as well as 11 other outlying communes. It covers a surface area of 241.5 km and provides transport for a population of over 1,100,000 inhabitants and thousands of commuters. The STIB network has 4 metro lines, 20 tram lines, 50 bus lines and 17 night bus lines. In 2008, over 286.1 million people chose public transport to get around the capital. Between 1999 and 2008, the number of STIB customers increased by 80%. This spectacular progress is almost unique in Europe.
For more information on Vancouver's 2010 Streetcar visit our 'Special Events' section or go to the micro site: http://www.vancouverstreetcar.bombardier.com
BOMBARDIER, FLEXITY and ECO4 are trademarks of Bombardier Inc. or its subsidiaries.
CONTACT: Talal Zouaoui, Canada and United States, Bombardier Inc Tel: +1 450 441 3007 Alejandro Gutierrez-Marcos, Mexico, Bombardier Inc Tel: +52 55 5093 7766 Germany, Austria, Switzerland, Central and Eastern Europe, Heiner Spannuth, Bombardier Inc Tel: +49 30 98607 1134 Jonny Hedberg, Nordic Countries, Bombardier Inc Tel: +46 10 852 5062 Alexander Bocharov, Russia, Bombardier Inc Tel: +7 495 775 1830 Neil Harvey, UK, Ireland, Australia, New Zealand, Bombardier Inc Tel: +44 1332 266470 Guy Hendrix, Benelux, Bombardier Inc Tel: +32 2289 7341 Anne Froger, France, Bombardier Inc Tel: +33 6 07 78 95 38 Luis Ramos, South Europe, Brazil and India, Bombardier Inc Tel: +35 1 919 693 728
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
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Companies: Bombardier Inc. (BDRAF)
MONTREAL, QUEBEC, Sep 2, 2009 (Marketwire via COMTEX) --
Bombardier Inc. (TSX:BBD.A)(TSX:BBD.B)
(All amounts in this press release are in U.S. dollars unless otherwise indicated.)
- Consolidated revenues of $4.9 billion, in line with last fiscal year
- EBITDA of $436 million, compared to $508 million last fiscal year
- EBIT of $313 million, or 6.3% of revenues, compared to $371 million, or 7.5%, last fiscal year
- Net income of $202 million, compared to $259 million last fiscal year
- Earnings per share of $0.11, compared to $0.14 last fiscal year
- Solid cash position of $2.8 billion
- Renewal of a North American letter of credit facility for an amount of $600 million
- Closing of a $500-million two-year unsecured revolving credit facility
- Strong backlog of $47.5 billion
Bombardier today reported financial results for the second quarter of fiscal year 2010. Revenues totalled $4.9 billion, the same as the corresponding period last fiscal year. Earnings before financing income, financing expense and income taxes (EBIT) totalled $313 million, compared to $371 million last fiscal year. EBIT margin reached 6.3% versus last year's 7.5%.
Net income for the second quarter ended July 31, 2009 amounted to $202 million, compared to $259 million for the same period last fiscal year. Diluted earnings per share (EPS) reached $0.11, compared to $0.14 last fiscal year. Free cash flow (cash flows from operating activities less net additions to property, plant and equipment and intangible assets) totalled $18 million for the second quarter ended July 31, 2009, compared to $99 million last fiscal year. The cash position amounted to $2.8 billion as at July 31, 2009, compared to $3.5 billion as at January 31, 2009. The overall backlog stands at $47.5 billion, as at July 31, 2009, compared to $48.2 billion as at January 31, 2009.
"We are taking the necessary actions to face the current difficult economic environment, which continues to have an impact on our results", said Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc. "The aerospace industry as a whole continues to experience challenging conditions, nevertheless, Bombardier Aerospace delivered 80 aircraft during the quarter, compared to 89 last year, and increased its market share position in business aircraft."
"Bombardier Transportation had a good quarter. Revenues, EBIT margin as well as free cash flow improved compared to last year and the group is well on its way to achieving its target EBIT margin of 6% for the full fiscal year."
"Overall, we have strong fundamentals, a large backlog, a solid liquidity position, and we remain focused on reducing costs and improving cash flow generation," concluded Mr. Beaudoin.
On September 1, 2009, Bombardier's Board of Directors approved a $500-million two-year unsecured revolving credit facility with a syndicate of commercial banks and other institutions, arranged by National Bank Financial Inc. This facility will be available for the general working capital needs of the Corporation.
Bombardier Aerospace
Bombardier Aerospace's revenues totalled $2.4 billion compared to $2.5 billion last fiscal year. EBIT reached $154 million translating into an EBIT margin of 6.4% for the second quarter ended July 31, 2009, compared to $243 million, or 9.7%, last fiscal year. Free cash flow usage totalled $10 million versus a free cash flow of $100 million for the same period last fiscal year. The level of free cash flow in the second quarter ended July 31, 2009 represents a $520-million improvement over the first quarter of the current fiscal year. Bombardier Aerospace's backlog totalled $19.6 billion as at July 31, 2009, compared to $23.5 billion as at January 31, 2009.
During the second quarter, business aircraft cancellations continued to exceed the level of new orders. However, there are some signs of stabilization in the business aircraft industry, though historically, a lag exists between economic recovery and its positive impact on revenues. According to the latest General Aviation Manufacturers Association (GAMA) report, Bombardier Aerospace remains the leader in business aircraft both in terms of revenues and units delivered.
In the commercial aircraft division, lower passenger traffic and airline profitability remain a concern, affecting the level of new orders for regional jets. Deliveries for the quarter increased to 28 aircraft compared to 23 for the same period last year. Bombardier Aerospace received orders for 15 Q400/Q400 NextGen turboprops, compared to nine for the corresponding period last year.
Bombardier Transportation
Bombardier Transportation revenues reached $2.5 billion for the second quarter ended July 31, 2009, an increase of $131 million over the same period last fiscal year, despite a negative currency impact of $306 million. EBIT totalled $159 million, compared to $128 million last fiscal year, while EBIT margin reached 6.2% versus 5.3% last fiscal year. Free cash flow amounted to $149 million for the second quarter ended July 31, 2009, compared to $105 million for the same period last fiscal year. The order backlog stood at $27.9 billion as at July 31, 2009, compared to $24.7 billion as at January 31, 2009.
During the second quarter, Bombardier Transportation reported new orders worth $3 billion, compared to $2.1 billion last fiscal year, leading to a book-to-bill ratio of 1.2, compared to 0.9 for the same period last fiscal year. These orders include a $735-million agreement with the Toronto Transit Commission, the largest single order ever awarded for light rail vehicles worldwide. In Brazil, the group also received a $120-million service contract for the modernization of the 30-year old Electrical Multiple Units (EMUs) of Companhia do Metropolitano de Sao Paulo (CMSP).
Subsequent to quarter end, Bombardier Transportation obtained an order for the supply, operations and maintenance of the INNOVIA Automated People Mover (APM) system for Phoenix Sky Harbor International Airport in the U.S. valued at $255 million. This contract represents the largest new-start APM project in North America in the last decade.
Financial highlights
(unaudited, in millions of U.S. dollars, except per share amounts, which
are shown in dollars)
Three-month periods
ended July 31
2009 2008
-------------------------------------------------------------------------
Restated
(1)
-------------------------------------------------------------------------
BA BT Total BA BT Total
-------------------------------------------------------------------------
Revenues $2,399 $2,547 $4,946 $2,516 $2,416 $4,932
-------------------------------------------------------------------------
EBITDA $247 $189 $436 $348 $160 $508
Amortization 93 30 123 105 32 137
-------------------------------------------------------------------------
EBIT $154 $159 313 $243 $128 371
Financing income (23) (82)
Financing expense 72 118
-------------------------------------------------------------------------
EBT 264 335
Income taxes 62 76
-------------------------------------------------------------------------
Net income $202 $259
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Attributable to:
Shareholders of
Bombardier Inc. $198 $251
Non-controlling
interests $4 $8
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Earnings per share
(in dollars) :
Basic $0.11 $0.14
Diluted $0.11 $0.14
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Segmented free
cash flow $(10) $149 $139 $100 $105 $205
Income taxes and
net financing
expense (121) (106)
-------------------------------------------------------------------------
Free cash flow $18 $99
-------------------------------------------------------------------------
Six-month periods
ended July 31
2009 2008
-------------------------------------------------------------------------
Restated
(1)
-------------------------------------------------------------------------
BA BT Total BA BT Total
-------------------------------------------------------------------------
Revenues $4,618 $4,799 $9,417 $4,896 $4,825 $9,721
-------------------------------------------------------------------------
EBITDA $451 $340 $791 $659 $313 $972
Amortization 187 56 243 210 67 277
-------------------------------------------------------------------------
EBIT $264 $284 548 $449 $246 695
Financing income (58) (143)
Financing expense 140 200
-------------------------------------------------------------------------
EBT 466 638
Income taxes 106 150
-------------------------------------------------------------------------
Net income $360 $488
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Attributable to:
Shareholders of
Bombardier Inc. $354 $477
Non-controlling
interests $6 $11
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Earnings per share
(in dollars) :
Basic $0.20 $0.27
Diluted $0.20 $0.26
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Segmented free
cash flow $(540) $(111) $(651) $390 $363 $753
Income taxes and
net financing
expense (148) (94)
-------------------------------------------------------------------------
Free cash flow $(799) $659
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(1) Restated following a change in accounting policy related to a new
accounting principle on fair value measurements and following our early
adoption of section 1602 "Non-controlling interests".
BA: Aerospace; BT: Transportation
Financial Results for the Second Quarter Ended July 31, 2009
ANALYSIS OF RESULTS
Consolidated results
Consolidated revenues totalled $4.9 billion for the second quarters ended July 31, 2009 and 2008. For the six-month period ended July 31, 2009, consolidated revenues reached $9.4 billion, compared to $9.7 billion for the same period last year.
For the second quarter ended July 31, 2009, EBIT reached $313 million, or 6.3% of revenues, compared to an EBIT of $371 million, or 7.5% of revenues, for the same period the previous year. For the semester ended July 31, 2009, EBIT amounted to $548 million, or 5.8% of revenues, compared to an EBIT of $695 million, or 7.1% of revenues, for the same period last fiscal year.
Net financing expense amounted to $49 million for the second quarter of fiscal year 2010, compared to $36 million for the corresponding period last year. For the six-month period ended July 31, 2009, net financing expense reached $82 million, compared to $57 million for the same period last year. The $13-million and $25-million increases are mainly due to lower interest income on cash and cash equivalents and lower interest income on invested collateral; partially offset by lower interest expense on long-term debt and positive variations in fair value of financial instruments.
The effective income tax rate was 23.5% and 22.7% respectively for the three- and six-month periods ending July 31, 2009, compared to the statutory income tax rate of 31.5%. The lower effective tax rates are mainly due to a net change in the recognition of tax benefits related to operating losses and temporary differences. For the six-month period, the reduction in the effective income tax rate was also due to lower effective income tax rates of foreign investees, partially offset by permanent differences.
As a result, net income amounted to $202 million, or $0.11 per share, for the second quarter of fiscal year 2010, compared to $259 million, or $0.14 per share, for the same period the previous year. For the first semester of fiscal year 2010, net income was $360 million, or $0.20 per share, compared to $488 million, or $0.26 per share, for the same period the previous year.
For the three-month period ended July 31, 2009, free cash flow totalled $18 million, compared to $99 million for the corresponding period the previous year. For the semester ended July 31, 2009, free cash flow usage totalled $799 million, compared to a free cash flow of $659 million for the corresponding period the previous year.
As at July 31, 2009, Bombardier's order backlog stood at $47.5 billion, compared to $48.2 billion as at January 31, 2009.
Bombardier Aerospace
- Revenues of $2.4 billion
- EBITDA of $247 million, or 10.3% of revenues
- EBIT of $154 million, or 6.4% of revenues
- Free cash flow usage of $10 million
- Negative 38 aircraft net orders
- Order backlog of $19.6 billion
Bombardier Aerospace's revenues amounted to $2.4 billion for the three-month period ended July 31, 2009, compared to $2.5 billion for the same period the previous year. The decrease is mainly due to a decrease in manufacturing revenues due to lower deliveries and selling prices for business aircraft, partially offset by a higher percentage of wide-body aircraft deliveries; partially offset by higher deliveries and selling prices for commercial aircraft and the sale of an additional amphibious aircraft.
For the second quarter ended July 31, 2009, EBIT reached $154 million, or 6.4% of revenues, compared to $243 million, or 9.7% of revenues, for the same period the previous year. The 3.3 percentage-point decrease is mainly due to higher cost of sales per unit, mainly due to price escalations of materials and disruption costs in connection with changes in production rates, lower selling prices for business aircraft, and the mix between business and commercial aircraft deliveries; partially offset by liquidated damages from customers as a result of business aircraft order cancellations, a positive variance on certain financial instruments carried at fair value, lower selling, general and administrative expenses, improved selling prices for commercial aircraft and lower amortization expenses.
Free cash flow usage totalled $10 million for the second quarter ended July 31, 2009, compared to free cash flow of $100 million for the same period last fiscal year. The $110-million decrease is mainly due to lower profitability and higher net additions to property, plant and equipment and intangible assets; partially offset by a positive period-over-period variation in net change in non-cash balances related to operations.
For the quarter ended July 31, 2009, aircraft deliveries totalled 80, compared to 89 for the same period the previous year. The 80 deliveries consisted of 51 business, 28 commercial and one amphibious aircraft (66 business and 23 commercial aircraft for the corresponding period last fiscal year).
Bombardier Aerospace recorded 38 negative net orders during the quarter ended July 31, 2009, compared to 175 net orders during the corresponding period the previous year. The 38 negative net orders consisted of 27 new orders and 80 cancellations of business aircraft and 15 new orders of commercial aircraft (162 business, 11 commercial and two amphibious aircraft for the corresponding period last fiscal year).
Bombardier Aerospace's firm order backlog stood at $19.6 billion as at July 31, 2009, compared to $23.5 billion as at January 31, 2009. The decrease in the order backlog for business and regional jets reflects the significantly higher business aircraft cancellations, as well as a level of new orders lower than revenues. This decline was partially offset by orders received for the CSeries family of aircraft in the first quarter of the current fiscal year.
Bombardier Transportation
- Revenues of $2.5 billion
- EBITDA of $189 million, or 7.4% of revenues
- EBIT of $159 million, or 6.2% of revenues
- Free cash flow of $149 million
- New order intake totalling $3 billion (book-to-bill ratio of 1.2)
- Order backlog of $27.9 billion
Bombardier Transportation's revenues amounted to $2.5 billion for the three-month period ended July 31, 2009, compared to $2.4 billion for the same period last year. The improvement is mainly due to increased activities for rolling stock in the intercity and high-speed segment in China and in the Netherlands, in the locomotive segment, mainly in Germany and in Spain, and in the commuter and regional trains segment, mainly in Denmark, Germany and in the U.K. The increase in revenues was partially offset by a negative currency impact amounting to $306 million.
For the second quarter ended July 31, 2009, EBIT totalled $159 million, or 6.2% of revenues, compared to an EBIT of $128 million, or 5.3% of revenues, for the same quarter the previous year. The 0.9 percentage-point increase is mainly due to better contract execution and better absorption of fixed costs as a result of the ramp-up in production; partially offset by a net gain related to foreign exchange fluctuations and certain financial instruments carried at fair value during the same period of last fiscal year.
Free cash flow was $149 million for the quarter ended July 31, 2009, compared to $105 million for the same period last fiscal year. The $44-million increase is mainly due to higher profitability and a positive period-over-period variation in net change in non-cash balances related to operations; partially offset by higher net additions to property, plant and equipment and intangible assets.
The order intake for the second quarter ended July 31, 2009 was $3 billion, compared to $2.1 billion for the same period last fiscal year, for a book-to-bill ratio of 1.2.
Bombardier Transportation's backlog stood at $27.9 billion as at July 31, 2009, compared to $24.7 billion as at January 31, 2009. The increase is due to the strengthening of foreign currencies as at July 31, 2009 compared to January 31, 2009, mainly the euro and pound sterling compared to the U.S. dollar; partially offset by revenues recorded being higher than order intake.
DIVIDENDS ON COMMON SHARES
Class A and Class B Shares
A quarterly dividend of $0.025 Cdn per share on Class A Shares (Multiple Voting) and of $0.025 Cdn per share on Class B Shares (Subordinate Voting) is payable on October 31, 2009 to the shareholders of record at the close of business on October 16, 2009.
Holders of Class B Shares (Subordinate Voting) of record at the close of business on October 16, 2009 also have a right to a priority quarterly dividend of $0.000390625 Cdn per share.
DIVIDENDS ON PREFERRED SHARES
Series 2 Preferred Shares
A monthly dividend of $0.04688 Cdn per share on Series 2 Preferred Shares has been paid on June 15, on July 15, and on August 15, 2009.
Series 3 Preferred Shares
A quarterly dividend of $0.32919 Cdn per share on Series 3 Preferred Shares is payable on October 31, 2009 to the shareholders of record at the close of business on October 16, 2009.
Series 4 Preferred Shares
A quarterly dividend of $0.390625 Cdn per share on Series 4 Preferred Shares is payable on October 31, 2009 to the shareholders of record at the close of business on October 16, 2009.
About Bombardier
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2009, were $19.7 billion, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com.
CSeries, INNOVIA, NextGen and Q400 are trademarks of Bombardier Inc. or its subsidiaries.
The Management's Discussion and Analysis and the interim consolidated financial statements are available at www.bombardier.com.
FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "plan", "foresee", "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. By their nature, forward-looking statements require Bombardier Inc. (the "Corporation") to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause the Corporation's actual results in future periods to differ materially from forecasted results. While the Corporation considers its assumptions to be reasonable and appropriate based on current information available, there is a risk that they may not be accurate. For additional information with respect to the assumptions underlying the forward-looking statements made in this press release, refer to the respective Forward-looking statements sections in BA and BT in the Management's Discussion and Analysis ("MD&A") of the Corporation's annual report for fiscal year 2009.
Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include risks associated with general economic conditions, risks associated with the Corporation's business environment (such as the financial condition of the airline industry), operational risks (such as risks involved in developing new products and services, risks in doing business with partners, risks relating to product performance warranty, casualty claim losses, risks from regulatory and legal proceedings, environmental risks, risks relating to the Corporation's dependence on certain customers and suppliers, human resource risks and risks resulting from fixed-term commitments), financing risks (such as risks resulting from reliance on government support, risks relating to financing support provided on behalf of certain customers and to reliance on government support, risks relating to liquidity and access to capital markets, risks relating to the terms of certain restrictive debt covenants) and market risks (including foreign currency fluctuations, changing interest rates and commodity pricing risk). For more details, see the Risks and Uncertainties section of the MD&A of the Corporation's annual report for fiscal year 2009. Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward-looking statements. The forward-looking statements set forth herein reflect the Corporation's expectations as at the date of this press release and are subject to change after such date. Unless otherwise required by applicable securities laws, the Corporation expressly disclaims any intention, and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CAUTION REGARDING NON-GAAP EARNINGS MEASURES
This press release is based on reported earnings in accordance with Canadian generally accepted accounting principles (GAAP). It is also based on EBITDA, and Free Cash Flow. These non-GAAP measures are directly derived from the Consolidated Financial Statements, but do not have a standardized meaning prescribed by GAAP; therefore, others using these terms may calculate them differently. Management believes that a significant number of the users of its MD&A analyze the Corporation's results based on these performance measures.
SOURCE: Bombardier Inc.
Bombardier Inc. Isabelle Rondeau Director, Communications 514-861-9481 Bombardier Inc. Shirley Chenier Senior Director, Investor Relations 514-861-9481 www.bombardier.com
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Companies: Bombardier Inc. (BDRAF)
MONTREAL, QUEBEC, Aug 24, 2009 (MARKETWIRE via COMTEX) --
Bombardier Inc. (TSX: BBD.A)(TSX: BBD.B) announced today the appointment of Ms. Martha Finn Brooks to its Board of Directors.
Ms. Brooks was until recently President and Chief Operating Officer of Novelis, Inc., an $11 billion global aluminum rolling company owned by Mumbai-based Hindalco Industries Ltd, which had earlier been spun off by Alcan in 2005. From 2002 to 2005, she served as Corporate Senior Vice President and President and Chief Executive Officer of Alcan Rolled Products, Americas and Asia. Prior to joining Alcan, Ms. Brooks worked over 15 years at engine manufacturer Cummins, Inc. where she held various positions of increasing responsibility, ultimately becoming Vice President and General Manager, Engine Business Sales and Marketing. Ms. Brooks holds a B.A. and an M.B.A in international business from Yale University. She is a former director of International Paper Inc. and currently sits on the Board of Directors of Harley-Davidson, Inc.
"We are pleased to welcome Martha Finn Brooks to Bombardier's Board," said Mr. Laurent Beaudoin, Chairman of the Board of Directors of Bombardier Inc. "Her strong track record in successfully managing various businesses in many regions of the world will be invaluable to Bombardier as the company continues to expand its global leadership."
Ms. Brooks' nomination has been recommended by the Corporate Governance and Nominating Committee and approved by the Board of Directors. Her appointment brings Bombardier's Board to 14 members, of whom nine are independent.
About Bombardier
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2009, were $19.7 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com.
Contacts: Bombardier Inc. Isabelle Rondeau Director, Communications 514-861-9481 Bombardier Inc. Shirley Chenier Senior Director, Investor Relations 514-861-9481 www.bombardier.com
SOURCE: Bombardier Inc.
http://www.bombardier.com
Tags: aircraft appointment asia business canada ceo commercial communications corporate index manufacturer marketing nomination north america president products sales track transportation university
Companies: Bombardier Inc. (BDRAF), Harley-Davidson, Inc. (HOG), Hindalco Industries Ltd. (HNDNF), Novelis Inc (NVL)
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Aircraft Photo by Roman Reiner, OE-LCJ, Bombardier Inc. Canadair CL 600-2B19, Austrian arrows Canadair Regional Jet CRJ200LR
during which Laurent Beaudoin, Chairman of the Board and Chief Executive Officer, Bombardier Inc.; Pierre Beaudoin, President and Chief Executive Officer designate, Bombardier Inc.; Guy C.
May 30, 2006 Annual Meeting of Shareholders Laurent Beaudoin, Chairman of the Board and Chief Executive Officer, Bombardier Inc.; Pierre Beaudoin, President and Chief Operating Officer, Bombardier Aerospace and Executive Vice President, Bombardier Inc. http://www.capital.bombardier.
http://www.zibb.com/aerospace/theme/cq/Bombardier+Incorporated
Time management software Bombardier Inc. Development of a software (on PLC and user interface) that manages working days and hours (including break times) for the start-up and the shut down of the entire Sea-Doo factory (3 quarters of work and 4 possible workers groups).
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Manufacturers of a large range of regional and business aircraft including the Learjet and Canadair ranges. Choose between French and English.
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Today, Bombardier, Incorporated has 24 administrators tracking 600 employees in HRToolbox. Our relationship with Bombardier, Incorporated continues to grow thanks to Etienne ...